Words from the Oracle

I recently watched a talk by oracle of Omaha - Warren Buffet. There are some incredible points made, and to be honest it's really shaken my world view a little bit. It's not necessarily that I've never heard or read about his view of the world, in particular the financial world, but there's something about hearing it from the man himself.

While I'll continue to ponder what he says, I feel it's important to note some of the points down for now.

1. Don't risk what can't afford to lose for a reward that will not make you any better, i.e. leveraged options plays for me.

2. Sigma 6 and 7 events do happen, i.e. LTCM.

3. Even the smartest people - geniuses - make mistakes, i.e. LTCM.

4. Buy what you know and understand. If you can't tell what will happen to a company in 10 years, don't bother buy it.

5. Buy businesses that you won't have to get a quote on if the exchanges went down for 5 years because they're great companies, not tickers, i.e. Coke (and not KO!).

6. Only Wall Street makes money from activity, individuals make money from holding.

7. Don't take a job for the sake of building your resume; work in a job you would if you were independently wealthy.

Enjoy and keep tinkering.

You can watch the video here.

Random

She tells me she knows when I don't write,
I chew gum because it's just right,
tasty and minty,
it's all a little dingy.


.... My attempt at creating poetry, or rap, I'm not too sure.

The markets are on fire,
I'm a little dire,
But I certainly ain't no liar.

Alright, that's all.